Your Catalyst To a Lucrative Business
The market for CFRPs is the fastest-growing and is projected to grow at a healthy CAGR during the forecast
period. Strict environmental rules and demand for fuel-efficient cars will propel this segment. And increased
application base for composites in latest vehicle models will also add to the demand.
On the basis of applications, the global automotive composites industry is fragmented into interior, exterior,
engine, and powertrain components. Owing to widespread expansion, chassis and powertrain components has
been the fastest growing segment over the past couple of years. . The exterior components segment led the
market due to high demand for aesthetic appeal and attractiveness in passenger cars. Engine & powertrain
components is projected to witness maximum gains in the years to come. The global market is also segmented
on the basis of technology into manual, continuous, injection, and compression.
Regionally, the automotive composites industry is categorized into Europe, Asia Pacific (APAC), North America,
Central and South America (CSA), and the Middle East and Africa (MEA). Surging income levels along with rapid
industrialization in various developing countries has resulted in the greatest industry share in this region.
Frequent business ventures and numerous product launches have made the region a lucrative hub for high
investments. The European automotive composites market will register moderate growth from 2016 to 2024.
Stringent environmental rules by the European government will boost regional growth. United Kingdom,
Germany, and France automotive composite markets will perform favorably owing to the presence of major
automobile manufacturers such as Renault and BMW. The North American region is also expected to have
steady gains due to a rise in the customer spending capacity post recession.
The global industry is highly consolidated one with four key players holding 70 % of the total market share.
Some of the key companies are Mitsubishi Corp.; Toho Co. Ltd.; Toray Industries Inc.; and Koninklijke Ten Cate
N. V.
Browse Related Category Market Reports@ https://www.hexaresearch.com/research-category/automotive-
and-transportation-industry
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